How To Takeover A Lease

Step By Step Guide on Taking Over A Lease in Canada

Step 1

Search For A Vehicle

Searching for the perfect vehicle is hard, there are so many options out there and it can be overwhelming. We are here to make it easy for you, search the best lease deals in Canada from the comfort of your home on Lease Marketplace.

Step 2

Contact The Buyer

Found the perfect vehicle? contact the seller and get all the details. The major things to consider are the transfer and licensing fee, so make sure you agree on who’s going to pay what fee beforehand.

Step 3

Fill Out The Credit Application

When you are ready to takeover the lease, you need to fill out the credit application. This can be usually found on the dealerships website under the “finance” or “apply now” tab. After filling out the credit application, email the dealership letting them know that you filled out the credit application and are looking to takeover the lease “include the lessor/seller in the email”. Credit applications can be done online or in-person, however, due to Covid dealers are moving to an online process.

Step 4

Go To The Dealer

Once you are approved and get the confirmation from the dealership, both you and the lessor/seller will need to sign some paperwork. This usually happens in-person at the dealership and takes 15-30 minutes depending on how busy the dealership is during that time.

Lease Takeover

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